IMARC Group’s latest report, titled “Tobacco Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” finds that the global tobacco market size reached 8.54 Million Tons in 2020. Tobacco refers to a stimulant prepared by curing the leaves of the tobacco plant through the process of drying and fermentation. It contains a colorless volatile alkaloid, also known as nicotine, which acts as a depressant and is associated with elevating the heart rate, constricting peripheral blood vessels, irritating lung tissues, increasing blood pressure, and affecting brain functions. It also triggers complex biochemical and neurotransmitter disruptions. Tobacco is consumed as snus, snuff, cigars, shisha, cigarillos and cigarettes, while chewing tobacco is one of the popular forms of tobacco consumption.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Tobacco Market Trends:
An increase in the number of smokers on the global level due to hectic lifestyles, inflating income levels, and early exposure to tobacco products represents the primary factor bolstering the market growth. In addition to this, the leading tobacco companies are launching modified and targeted products by conducting surveys to assess the requirements of their consumer base. For instance, they have introduced long, skinny, and lightweight cigarette variants aimed at female consumers. Moreover, a strong distribution network of tobacco companies, particularly in countries like China and India, is contributing to the sales of their products. Furthermore, manufacturers are engaged in research and development (R&D) activities to develop low-risk tobacco products, owing to the rising health awareness among consumers. However, the popularity of e-cigarettes among young consumers and several government initiatives to promote healthy lifestyle habits are expected to hamper the market growth. Looking forward, the market is projected to reach a volume of 9.29 Million Tons by 2026.
- On the basis of the type, the market has been categorized into cigarettes, roll your own, cigars, cigarillos, smokeless tobacco and others. Amongst these, cigarettes are the most popular product type, holding the majority of the total market share.
- On the geographical front, China holds the leading position in the market. Other key regions include India, Brazil, the United States and the EU 15.
- The competitive landscape of the market has been examined, with some of the key players being China National Tobacco Corporation, British America Tobacco, Phillip Morris International, Japan Tobacco International and Imperial Tobacco Group.
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